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FxWirePro: Aussie strengthens against major peers after export-import price index data

  • AUD/NZD is currently trading around 1.0719 marks.
     
  • Pair made intraday high at 1.0720 and low at 1.0694 marks.
     
  • Intraday bias remains bullish till the time pair holds key support at 1.0668 mark.
     
  • A sustained close above 1.0698 will drag the parity higher towards key resistances at 1.0802/1.0945/1.1072 levels respectively.
     
  • Alternatively, a daily close below 1.0698 will take the parity down towards key supports around 1.0620/1.0572/1.0506/1.0443/1.0380/1.0305 marks respectively.
     
  • Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.
     
  • Australia Q1 export prices increase to 4.9 % vs previous 2.8 %.
     
  • Australia Q1 import prices increase to 2.1 % vs previous 2 %.
     
  • Australia's S&P/ASX 200 index down 0.06 pct at 5,918.10 points in early trade.

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